Full Form of HDFC

Full Form of HDFC – Housing Development Finance Corporation

The full form of HDFC stands for Housing Development Finance Corporation. HDFC Bank Ltd. is a banking and financial services company based in India and has its headquarters located in Mumbai, India, providing a lot of services and financial products to its customers like personal loans, credit card facilities, vehicle loans, wholesale and retail bankingRetail BankingRetail banking or personal banking refers to the financial services offered by the financial institutions exclusively to the individual clients. The consumer banking provides personal loan, savings account, debit cards, credit cards, locker, etc.read more, loans with property mortgaged, etc. of which the main products are as follows:

Products and Services Offered by HDFC


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#1 – Mutual Funds

The HDFC Asset management company Ltd, one of the subsidiaries of HDFC Ltd., provides mutual fundMutual FundA mutual fund is an investment fund that investors professionally manage by pooling money from multiple investors to initiate investment in securities individually held to provide greater diversification, long term gains and lower level of risks.read more services.

#2 – General Insurance

Motor, accident, vehicle, property, travel, home, health, liability are some of the general insurance products that the corporation provides.

#3 – Life Insurance

The subsidiary of HDFC Standard Life Insurance Company limited of HDFC Ltd. provides life insurance services and customized products to meet the customers’ individual needs.

#4 – Mortgage

The corporation provides finance to individuals and corporates to purchase or construct residential houses.

#5 – Educational Loans

Through HDFC Credila, a Non-Banking Financial Company, the corporation provides educational loans to post-graduate and under-graduate students of India and abroad.

The shares are listed on the Bombay Stock Exchange and the National Stock Exchange.

The network of the company is spread across India in approximately 2400 towns and cities with 396 offices. It also has branches in London, Dubai, Singapore and, other Middle East countries to facilitate transactions of Non-Resident Indians.


It was founded by Hasmukh Thakordas Parekh, who was a philanthropist, economist, entrepreneur, and writer. He was born on 10th March 1911 in Surat (British India). The London School of Economics awarded him the honorary Padma Bhushan and fellowship. He also played an instrumental role in the development of the Industrial Credit and Investment Corporation of India, now called the ICICI bank.


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Brief History of HDFC

The Housing Development Finance Corporation was incorporated in 1994 in Mumbai, Maharashtra, with it being the registered office.
The first operating corporate office and branch with all services was established in Sandoz House, Worli, which was inaugurated by Dr. Manmohan Singh, the then Finance Minister of India.

Core Values of the Bank

The core values are as follows:


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  1. Trust
  2. Professional Service
  3. Integrity and
  4. Transparency

The corporation’s objective is to provide professionally and systematically, housing finance and providing ownership.

The aim of this Corporation is to increase the flow of resources to the housing sector by integrating domestic financial marketsFinancial MarketsThe term "financial market" refers to the marketplace where activities such as the creation and trading of various financial assets such as bonds, stocks, commodities, currencies, and derivatives take place. It provides a platform for sellers and buyers to interact and trade at a price determined by market forces.read more to the housing finance sector.

The strategies of the corporation are as follows:

List of Subsidiaries, Joint Ventures, and Associates

The subsidiaries are as follows:


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#1 – HDFC Standard Life Insurance Co. Ltd

It is a long term life insurance provider headquartered at Mumbai.

It offers individual insurance and group insuranceGroup InsuranceGroup insurance covers a group of people related by some defined criteria like members of society, any professional association or employees of an organization. It can be life insurance, health insurance or any other type of personal insurances.read more. It is a joint venture between HDFC and Standard Life Aberdeen PLC, a UK based investment service provider.

#2 – HDFC Asset Management Company

The SEBI approved the HDFC Asset Management Company to act as the Asset Management Company for Housing Development Finance Corporation Mutual Funds on the 3rd of July, 2000.

#3 – HDFC Ergo General Insurance Company

It is a joint venture between HDFC and ERGO International AG, an insurance company of Germany with Housing Development Finance Corporation holding 51% offering a wide range of products such as vehicles, health, travel insurance, etc.

#4 – GRUH Finance

Housing finance companies in which HDFC holds around 59%. It issues loans for the purchase, construction, major repairs, and renovation of residential house property.

It is also known for lending to those who do not have a formal income source, say the self-employed people.

#5 – HDFC Property Fund

With the HDFC property fund’s help, Housing Development Finance Corporation entered the private equity business to help investors grow with the growing Indian real estate sector.


HDFC RED is a wholly-owned subsidiaryWholly-owned SubsidiaryWhen a company’s almost all of the outstanding shares are owned by another company (parent) then it can be said that it is a wholly-owned subsidiary of that company and it is controlled by the parent company. For example, Walt Disney Entertainment owns 100% of Marvel Entertainment which produces movies.read more of HDFC Ltd. It is an online listing platform in the real estate sector. HDFC Developers control the operations of HDFC RED.

#7 – HDFC Credila Financial Services

It is the one that has launched the education loan facilities, being the first dedicated company to provide education loans.

#8 – HDFC Pension

It was started to diversify the investment portfolioInvestment PortfolioPortfolio investments are investments made in a group of assets (equity, debt, mutual funds, derivatives or even bitcoins) instead of a single asset with the objective of earning returns that are proportional to the investor's risk profile.read more across a range of good return-seeking assets so that the long term potential to generate income is higher.

#9 – HDFC Sales

It was formed in the year 2004 with headquarters situated in Mumbai. It serves both retail investorsRetail InvestorsA retail investor is a non-professional individual investor who tends to invest a small sum in the equities, bonds, mutual funds, exchange-traded funds, and other baskets of securities. They often take the services of online or traditional brokerage firms or advisors for investment decision-making.read more and high net worth individuals. The investment strategies and products are tailor-made to suit individual investor needs.

#10 – HT Parekh

Hasmukh Thakordas Parekh Foundation- Started in the founder’s name, it is a not for profit organization and a non-govt. A company that has been established the HDFC in the year 2012.


In short, HDFC is an Indian-based financial services corporation with a presence in insurance, pension, educational loans, personal loans, real estate and infrastructure development, general insurance, housing finance, mutual funds, and customized investment products and services. It has also formed a Sec 8 company (erstwhile Sec 25 company), i.e., a non-profit motive. It has many subsidiaries and associate companies and has also entered into joint ventures with some foreign companies.

Though the company is based in India and has its operations based across India’s length and breadth, the company’s major shareholders are the Foreign institutional investors (FIIs).

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This has been a guide to the full form of HDFC (Housing Development Finance Corporation) and its definition. Here we learn the products and services offered by HDFC, Joint ventures, and associates of Housing Development Finance Corporation. You may refer to the following articles to learn more about finance –

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